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Deutsche set to fight HMRC
DEUTSCHE Bank has officially confirmed its intention to appeal a tribunal decision which ruled against a scheme it established to avoid taxes on bonuses.
The January decision against the bank by Judge David Williams affects a £92m pay pot Deutsche set up in the Cayman Islands before rule changes made the arrangement illegal.
A spokesman for the bank said: “This was a one-off arrangement from seven years ago and hasn’t been repeated. We believe it met all requirements at the time and are appealing the decision.”